Benzoic Acid Market Research Report: by Application (Sodium Benzoate, Potassium Benzoate, Benzyl Benzoate, Benzoate Plasticizer, Alkyd Resin, Benzoyl Chloride, Feed Additive, Others), by End-use (Food & Beverages, Chemical Industry, Pharmaceutical Industry, Others), and Region - Forecast to 2030
ID: MRFR/CnM/0613-CR | February 2021 | Region: Global | 143 pages
Benzoic Acid Market- Overview:
The Benzoic Acid Market CAGR percentage during the forecast period is expected to be 5.9%.
In the benzoic acid market overview, it is mentioned that its market growth is expected to reach an estimated USD 1,219 million by the year 2030. As for the beginning of the forecast period in 2017, the market value was around USD 868 million.
The main reason for this high growth rate expectation is the use of benzoic acid in a variety of industries. The most common ones include pharmaceutical end-use, food and beverages, and even chemical industries. It is a type of carboxylic acid that includes a lot of functional features, like antibacterial and antifungal effects. This naturally-formed compound is visible in a lot of fruits, like prunes, raspberries, plums, prunes, and cranberries.
Among the different industries, the food and beverages industries would likely affect the high growth rate mostly. Benzoic acid is effective against yeasts and molds. Also, it is a necessary ingredient in benzyl benzoate, phenols, and benzoyl chloride. Owing to this, the global benzoic acid market is anticipated to grow at a fast rate.
COVID-19 Analysis:
The recent Covid-19 pandemic did affect the benzoic acid market in separate manners. During the earlier months of 2020, production levels in this market dropped due to regional lockdowns and government restrictions. However, it later picked up in distribution due to the demand for pre-packaged food in the later months of 2020 and early 2021.
Insights from the Covid-19 period show changes in factors related to this market, like the purchasing pattern, customer behaviour, re-routing of supply chains, demands, etc. During the overall Covid-19 period, the financial profit range of this market was not high. That caused a fall of CDGR and market value estimation in the benzoic acid market forecast.
Competitive Landscape
In this analysis, many leading players in the benzoic acid market are mentioned and researched. Ganesh Benzoplast Limited is one of the key producers of benzoic acid in India. It supplies benzoic acid to various pharmaceutical and food & beverage industries.
The following list shows the names of the key companies who are covered in this report:
- Ganesh Benzoplast Limited (India)
- Tianjin Dongda Chemical Group Co. Ltd. (China)
- Choice Organochem LLP (India)
- Spectrum Chemical Manufacturing Corp. (U.S.)
- Hemadri Chemicals (India)
- Emerald Performance Materials (U.S.)
- Wuhan YouJi Industries Company Limited (China)
- Alfa Aesar, Thermo Fisher Scientific (U.S.)
- Avantor (U.S.)
- MP Biomedicals LLC (U.S.)
Market Dynamics:
- Drivers
One of the main drivers of the benzoic acid market growth is the growing requirement of benzoic acid in the food and beverage industry. With the increasing focus on healthy living and eating, this demand growth was imminent. Current urbanization and economic development also affect the growth rate in this market, mainly in the Asia Pacific region. More people around the globe are opting for food products with preservatives. Plus, a lot of people depend on processed beverages and food types due to their fast-paced lifestyles. Benzoic acid is one of the key ingredients in such products and that is expected to affect the growth rate of the overall global benzoic acid market.
Manufacturers of packaged and processed food items are concentrating on food safety highly. Using food preservatives that contain benzoic acid would keep them fresh for longer. The sodium, calcium salts, and potassium content have antifungal properties that preserve food. It safeguards against yeasts and molds to a higher extent and bacteria to a lower extent. Also, this natural food preservative maintains the acidic pH value in beverages like sparkling drinks, fruit juices, and soft drinks as well. Moreover, benzoic acid works to preserve acidic food items like pickles.
All in all, these factors make the food and beverage industry a key driver for the growth of the benzoic acid market in the forecast period. Besides that, the use of benzoic acid derivatives also influences its overall market growth forecast. A benzoic acid market manufacturer can use this acid to prepare benzoyl chloride, benzyl benzoate, and phenols. The first one helps manufacture the second one, which is further used in insect repellents. Thus, these are key growth drivers in the benzoic acid market as well.
- Opportunities
With the increasing changes in the lifestyle of communities due to regional advancement, urbanization, and capacity expansions, the high benzoic acid market growth is imminent in the future. A lot of factors can act as opportunities for the market, specifically the continuing rise in the demand for healthy packed and processed food. Furthermore, new advances and product developments would also boost the growth of this market in the forecast period.
Many countries worldwide are using benzoic acid in their industries and would continue to utilize it as a more robust alternative. In the North American and European regions, the non-phthalate plasticizers are set to replace phthalate plasticizers completely. Benzoic acid is an active component in the former, and thus, its demand is expected to grow at a high rate in these regions.
- Restraints
There are some restraints to the benzoic acid market uses as well, seen in various regions and industries. While benzoic acid does have antifungal and antibacterial results, too much of it can harm health in particular ways. Some studies show that consuming foods with this acid for a prolonged period can hurt the digestive tract and lungs. Moreover, in particular regions, governmental regulations are in place against benzoic acid use. These regulations stipulate a limited addition of benzoic acid in packaged beverages and food items.
- Challenges
One of the main challenges visible in the benzoic acid market overview of the forecast period is the price of toluene. Toluene is a colourless, water-insoluble, and aromatic hydrocarbon liquid. It falls under the category of crude oils. It has links with a particular phenyl group, and benzoic acid is a useful component of this preparation. Generally, the price of raw materials, especially crude oils, is volatile in nature. So, the fluctuating price of toluene can badly affect the overall market growth of the benzoic acid market.
Moreover, in the developed economies, many companies are not using or limitedly using benzoic acid in their food preservative production. This, as well, is an anticipated challenge in market growth.
- Cumulative Growth Analysis
During the forecast period up to 2030, the benzoic acid market share is set to grow at a 5.9% CAGR. The net value of the market is anticipated to become USD 1,219 million approximately at the end of the forecast period. Changes in the global market trends, opportunities, governmental regulations, and more would affect the growing value of benzoic acid in several industries.
Also, further prediction on the market volume shows that the CAGR can go up to 5.21% and become 689.1 kilotons before 2030. It is important to mention that all of these are estimations, and the rates can rise and fall before the forecast period ends.
- Value Chain Analysis of Benzoic Acid Market
The demand for natural ingredients in the food market and overuse of packaged items would affect the value of the benzoic acid market. In the forecast period, the use of this acid in different industries is expected to increase in regions, like the APAC, the EMAC, and the Americas.
- Segment Overview:
The segmented overview of the worldwide benzoic acid market focuses on four main bases- the application process, types of products, the end-user industry, and geography.
- By Application
The market of benzoic acid is segmented based on its application in different products. Some of the common ones include benzoate plasticizers, benzoates, alkyd resins, animal feed additives, and benzoyl chloride. Also, benzoic acid is beneficial in various other applications as well, differing from industry to industry.
- By Product Type
Different production methods are classified under the benzoic acid market for segmented analysis. Two of them are mentioned below.
Friedel-crafts reaction- Under this set of reactions, there are two subtypes, specifically acylation reactions and alkylation reactions. The substitution method for both reactions is electrophilic aromatic in nature.
Grignard reagents- This type of organomagnesium halide has a formula of RMgX. In the formula, ‘R’ represents aryl or alkyl group, depending on the benzene ring, and ‘X’ is a type of halogen. When a Grignard reaction occurs, a Grignard reagent is mixed with either aldehyde for a secondary alcohol formation or ketone for tertiary alcohol formation.
- .By end-user industry
The three main types of end-user industries that utilize benzoic acid include the chemical industry, Pharmaceutical industry, and the Food & Beverage industry. Some other industries use benzoic acid as well but in minimum quantities.
- Regional Analysis
The benzoic acid market forecast is estimated based on the analysis of different regions as well. These sections include North America, Latin America, Europe, Asia Pacific, Middle East and Africa. The forecast is further sub-segmented into 18 countries of these continents.
- Recent Developments
- In 2018, the APAC region contributed highly to the growth of the benzoic acid market and is expected to dominate throughout the forecast period.
- Emerald Kalamala Limited, Specialty chemical maker from Ohio conceived a plan for using benzaldehyde and benzoic acid to help with excess demand in industries.
- A 2-member team from IIT-Madras, India, managed to convert the petroleum residue, toluene, into benzoic acid. The head of the team was a member of the Chemistry department of the institute, G. Sekar.
Report Overview:
This report overview of the benzoic acid market gives the readers a detailed and comprehensive picture of the operations in the market, benzoic acid market trends, and daily industry functions. It segments the overall data into sub-part to make it more easy-to-understand for the readers. The segments are further analysed, focusing on the past condition of the benzoic acid market and possible growth prospects in the forecast period.
Segmentation Table-
By End-User
- Pharmaceuticals Industry
- Food and Beverage
- Chemicals Industry
- Others
By Region
- North America (Canada & US)
- Latin America (Mexico, Brazil, Argentina, etc.)
- Asia Pacific (India, China, Indonesia, Japan, South Korea, etc.)
- Europe (Germany, France, Russia, U.K., Spain, Italy, etc.)
- Middle East & Africa (U.A.E., Saudi Arabia, Turkey, etc.)
Report Scope:
| Report Attribute/Metric | Details |
|---|---|
| Market Size |
|
| CAGR | 5.9% (2022-2030) |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2019 & 2020 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product Type, Application and End-Use |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Vendors | Ganesh Benzoplast Limited (India), Tianjin Dongda Chemical Group Co. Ltd. (China), Choice Organochem LLP (India), Spectrum Chemical Manufacturing Corp. (U.S.), Hemadri Chemicals (India), Emerald Performance Materials (U.S.), Wuhan YouJi Industries Company Limited (China), Alfa Aesar, Thermo Fisher Scientific (U.S.), Avantor (U.S.), MP Biomedicals LLC (U.S.) |
| Key Market Opportunities | increasing changes in the lifestyle of communities due to regional advancement, urbanization, and capacity expansions |
| Key Market Drivers |
|
Frequently Asked Questions (FAQ) :
The benzoic acid market is expected to grow at a CAGR of 5.9% by 2023.
Out of the three main industries it is used in, the food & beverage industry uses benzoic acid in higher quantity. Thus, it would likely have the highest impact on the benzoic acid market growth during the forecast period.
According to research, the Asia Pacific region would likely have the highest impact on the overall benzoic acid market.
Some of the key leaders in the benzoic acid market are Hemadri Chemicals, Avantor, Ganesh Benzoplast Limited, and Tianjin Dongda Chemical Group Co. Ltd.
1 Executive Summary
2 Market Introduction
2.1 Market Definition 19
2.2 Scope Of The Study 19
2.3 List Of Assumptions 19
2.4 Market Structure 20
3 Research Methodology
3.1 Research Process 22
3.2 Primary Research 23
3.3 Secondary Research 24
3.4 Market Size Estimation 24
3.5 Forecast Model 25
4 Market Dynamics
4.1 Introduction 27
4.2 Drivers 28
4.2.1 Growing Demand From Food & Beverage Industry 28
4.2.2 Growing Pharmaceutical Industry 29
4.2.3 Use Of Benzoic Acid In Chemical Synthesis 30
4.3 Restraints 31
4.3.1 Heath Hazards Associated With Benzoic Acid 31
4.4 Opportunities 32
4.4.1 Growing Use Of Benzoates In Cosmetics & Personal Care Applications 32
4.5 Trends 32
4.5.1 Increasing Demand For Non-Phthalate Plasticizers Over Phthalate Plasticizers 32
5 Market Factor Analysis
5.1 Supply Chain Analysis 34
5.1.1 Raw Materials 34
5.1.2 Benzoic Acid Manufacturers 34
5.1.3 Distribution Channel 35
5.1.4 End-Use Industries 35
5.2 Porter’s Five Forces Analysis 35
5.2.1 Threat Of New Entrants 35
5.2.2 Threat Of Rivalry 36
5.2.3 Threat Of Substitutes 36
5.2.4 Bargaining Power Of Suppliers 36
5.2.5 Bargaining Power Of Buyers 36
5.3 Estimated Production Capacity 36
6 Global Benzoic Acid Market, By Application
6.1 Introduction 38
6.2 Sodium Benzoate 40
6.3 Potassium Benzoate 41
6.4 Benzyl Benzoate 42
6.5 Benzoate Plasticizer 43
6.6 Alkyd Resin 44
6.7 Benzoyl Chloride 45
6.8 Feed Additive 46
6.9 Others 47
7 Global Benzoic Acid Market, By End Use
7.1 Introduction 49
7.2 Food & Beverages 51
7.3 Chemical Industry 52
7.4 Pharmaceutical Industry 53
7.5 Others 54
8 Global Benzoic Acid Market, By Region
8.1 Introduction 56
8.2 North America 58
8.2.1 U.S. 60
8.2.2 Canada 62
8.3 Europe 64
8.3.1 Germany 67
8.3.2 UK 69
8.3.3 Russia 71
8.3.4 France 73
8.3.5 Spain 75
8.3.6 Italy 77
8.3.7 Rest Of Europe 79
8.4 Asia Pacific 81
8.4.1 China 84
8.4.2 Japan 86
8.4.3 India 88
8.4.4 Indonesia 90
8.4.5 South Korea 92
8.4.6 Rest Of Asia Pacific 94
8.5 Latin America 96
8.5.1 Brazil 99
8.5.2 Argentina 101
8.5.3 Mexico 103
8.5.4 Rest Of Latin America 105
8.6 The Middle East And Africa 107
8.6.1 UAE 110
8.6.2 Turkey 112
8.6.3 Saudi Arabia 114
8.6.4 Rest Of Middle East And Africa 116
9 Competitive Landscape
9.1 Introduction 119
9.2 Market Strategy Analysis 119
9.3 Benzoic Acid Consumers 119
10 Company Profiles
10.1 Ganesh Benzoplast Limited 121
10.1.1 Company Overview 121
10.1.2 Financial Overview 121
10.1.3 Products Offered 122
10.1.4 Key Developments 122
10.1.5 SWOT Analysis 122
10.1.6 Key Strategies 122
10.2 Hemadri Chemicals 123
10.2.1 Company Overview 123
10.2.2 Financial Overview 123
10.2.3 Products Offered 123
10.2.4 Key Developments 123
10.2.5 SWOT Analysis 123
10.2.6 Key Strategies 123
10.3 Emerald Performance Materials 124
10.3.1 Company Overview 124
10.3.2 Financial Overview 124
10.3.3 Products Offered 124
10.3.4 Key Developments 124
10.3.5 SWOT Analysis 125
10.3.6 Key Strategies 125
10.4 Navyug Pharmachem (P) Ltd 126
10.4.1 Company Overview 126
10.4.2 Financial Overview 126
10.4.3 Products Offered 126
10.4.4 Key Developments 126
10.4.5 SWOT Analysis 126
10.4.6 Key Strategies 126
10.5 Eastman Chemical Company 127
10.5.1 Company Overview 127
10.5.2 Financial Overview 127
10.5.3 Products Offered 127
10.5.4 Key Developments 127
10.5.5 SWOT Analysis 128
10.5.6 Key Strategies 128
10.6 Tianjin Dongda Chemical Group Co., Ltd 129
10.6.1 Company Overview 129
10.6.2 Financial Overview 129
10.6.3 Products Offered 129
10.6.4 Key Developments 129
10.6.5 SWOT Analysis 129
10.6.6 Key Strategies 129
10.7 Alfa Aesar, Thermo Fisher Scientific 130
10.7.1 Company Overview 130
10.7.2 Financial Overview 130
10.7.3 Products Offered 130
10.7.4 Key Developments 131
10.7.5 SWOT Analysis 131
10.7.6 Key Strategies 131
10.8 GFS Chemicals, Inc. 132
10.8.1 Company Overview 132
10.8.2 Financial Overview 132
10.8.3 Products Offered 132
10.8.4 Key Developments 132
10.8.5 SWOT Analysis 132
10.8.6 Key Strategies 132
10.9 Wuhan YouJi Industries Company Limited 133
10.9.1 Company Overview 133
10.9.2 Financial Overview 133
10.9.3 Products Offered 133
10.9.4 Key Developments 133
10.9.5 SWOT Analysis 133
10.9.6 Key Strategies 134
10.10 Spectrum Chemical Manufacturing Corp. 135
10.10.1 Company Overview 135
10.10.2 Financial Overview 135
10.10.3 Products Offered 135
10.10.4 Key Developments 135
10.10.5 1.10.5SWOT Analysis 136
10.10.6 Key Strategies 136
10.11 MP Biomedicals, LLC 137
10.11.1 Company Overview 137
10.11.2 Financial Overview 137
10.11.3 Products Offered 137
10.11.4 Key Developments 137
10.11.5 SWOT Analysis 138
10.11.6 Key Strategies 138
10.12 Avantor 139
10.12.1 Company Overview 139
10.12.2 Financial Overview 139
10.12.3 Products Offered 139
10.12.4 Key Developments 139
10.12.5 SWOT Analysis 139
10.12.6 Key Strategies 139
10.13 Choice Organochem LLP 140
10.13.1 Company Overview 140
10.13.2 Financial Overview 140
10.13.3 Products Offered 140
10.13.4 Key Developments 140
10.13.5 SWOT Analysis 140
10.13.6 Key Strategies 140
11 Conclusion
11.1 Key Findings 142
12 List Of Tables
TABLE 1 MARKET SYNOPSIS 17
TABLE 2 LIST OF ASSUMPTIONS 19
TABLE 3 GLOBAL BENZOIC ACID, BY APPLICATION, 2020-2027 (USD MILLION) 38
TABLE 4 GLOBAL BENZOIC ACID MARKET, BY APPLICATION, 2020-2027 (KILO TONS) 39
TABLE 5 GLOBAL BENZOIC ACID MARKET FOR SODIUM BENZOATE, BY REGION, 2020-2027 (USD MILLION) 40
TABLE 6 GLOBAL BENZOIC ACID MARKET FOR SODIUM BENZOATE, BY REGION, 2020-2027 (KILO TONS) 40
TABLE 7 GLOBAL BENZOIC ACID MARKET FOR POTASSIUM BENZOATE, BY REGION, 2020-2027 (USD MILLION) 41
TABLE 8 GLOBAL BENZOIC ACID MARKET FOR POTASSIUM BENZIOATE, BY REGION, 2020-2027 (KILO TONS) 41
TABLE 9 GLOBAL BENZOIC ACID MARKET FOR BENZYL BENZOATE, BY REGION, 2020-2027 (USD MILLION) 42
TABLE 10 GLOBAL BENZOIC ACID MARKET FOR BENZYL BENZOATE, BY REGION, 2020-2027 (KILO TONS) 42
TABLE 11 GLOBAL BENZOIC ACID MARKET FOR BENZOATE PLASTICIZERS, BY REGION, 2020-2027 (USD MILLION) 43
TABLE 12 GLOBAL BENZOIC ACID MARKET FOR BENZOATE PLASTICIZERS, BY REGION, 2020-2027 (KILO TONS) 43
TABLE 13 GLOBAL BENZOIC ACID MARKET FOR ALKYD RESIN, BY REGION, 2020-2027 (USD MILLION) 44
TABLE 14 GLOBAL BENZOIC ACID MARKET FOR ALKYD RESIN, BY REGION, 2020-2027 (KILO TONS) 44
TABLE 15 GLOBAL BENZOIC ACID MARKET FOR ALKYD BENZOYL, BY REGION, 2020-2027 (USD MILLION) 45
TABLE 16 GLOBAL BENZOIC ACID MARKET FOR BENZOYL CHLORIDE, BY REGION, 2020-2027 (KILO TONS) 45
TABLE 17 GLOBAL BENZOIC ACID MARKET FOR FEED ASDDITIVE, BY REGION, 2020-2027 (USD MILLION) 46
TABLE 18 GLOBAL BENZOIC ACID MARKET FOR FEED ASDDITIVE, BY REGION, 2020-2027 (KILO TONS) 46
TABLE 19 GLOBAL BENZOIC ACID MARKET FOR OTHERS, BY REGION, 2020-2027 (USD MILLION) 47
TABLE 20 GLOBAL BENZOIC ACID MARKET FOR OTHERS, BY REGION, 2020-2027 (KILO TONS) 47
TABLE 21 GLOBAL BENZOIC ACID, BY END USE, 2020-2027 (USD MILLION) 49
TABLE 22 GLOBAL BENZOIC ACID MARKET, BY END USE, 2020-2027 (KILO TONS) 50
TABLE 23 GLOBAL BENZOIC ACID MARKET FOR FOOD & BEVERAGES, BY REGION, 2020-2027 (USD MILLION) 51
TABLE 24 GLOBAL BENZOIC ACID MARKET FOR FOOD & BEVERAGES, BY REGION, 2020-2027 (KILO TONS) 51
TABLE 25 GLOBAL BENZOIC ACIDMARKET FOR CHEMICAL INDUSTRY, BY REGION, 2020-2027 (USD MILLION) 52
TABLE 26 GLOBAL BENZOIC ACID MARKET FOR CHEMICAL INDUSTRY, BY REGION, 2020-2027 (KILO TONS) 52
TABLE 27 GLOBAL BENZOIC ACID MARKET FOR PHARMACEUTICAL INDUSTRY, BY REGION, 2020-2027 (USD MILLION) 53
TABLE 28 GLOBAL BENZOIC ACIDMARKET FOR PHARMACEUTICAL INDUSTRY, BY REGION, 2020-2027 (KILO TONS) 53
TABLE 29 GLOBAL BENZOIC ACID MARKET FOR OTHERS, BY REGION, 2020-2027 (USD MILLION) 54
TABLE 30 GLOBAL BENZOIC ACIDMARKET FOR OTHERS, BY REGION, 2020-2027 (KILO TONS) 54
TABLE 31 GLOBAL BENZOIC ACID MARKET, BY REGION, 2020-2027 (USD MILLION) 56
TABLE 32 GLOBAL BENZOIC ACID MARKET, BY REGION, 2020-2027 (KILO TONS) 57
TABLE 33 NORTH AMERICA BENZOIC ACID MARKET, BY COUNTRY, 2020-2027 (USD MILLION) 58
TABLE 34 NORTH AMERICA BENZOIC ACIDMARKET, BY COUNTRY, 2020-2027 (KILO TONS) 58
TABLE 35 NORTH AMERICA BENZOIC ACID MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 58
TABLE 36 NORTH AMERICA BENZOIC ACID MARKET, BY APPLICATION, 2020-2027 (KILO TONS) 59
TABLE 37 NORTH AMERICA BENZOIC ACID MARKET, BY END USE, 2020-2027 (USD MILLION) 59
TABLE 38 NORTH AMERICA BENZOIC ACID MARKET, BY END USE, 2020-2027 (KILO TONS) 60
TABLE 39 U.S. BENZOIC ACID MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 60
TABLE 40 U.S. BENZOIC ACID MARKET, BY APPLICATION, 2020-2027 (KILO TONS) 61
TABLE 41 U.S. BENZOIC ACID MARKET, BY END USE, 2020-2027 (USD MILLION) 61
TABLE 42 U.S. BENZOIC ACIDMARKET, BY END USE, 2020-2027 (KILO TONS) 62
TABLE 43 CANADA BENZOIC ACID MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 62
TABLE 44 CANADA BENZOIC ACID MARKET, BY APPLICATION, 2020-2027 (KILO TONS) 63
TABLE 45 CANADA BENZOIC ACIDMARKET, BY END USE, 2020-2027 (USD MILLION) 63
TABLE 46 CANADA BENZOIC ACIDMARKET, BY END USE, 2020-2027 (KILO TONS) 64
TABLE 47 EUROPE BENZOIC ACID MARKET, BY COUNTRY, 2020-2027 (USD MILLION) 64
TABLE 48 EUROPE BENZOIC ACID MARKET, BY COUNTRY, 2020-2027 (KILO TONS) 65
TABLE 49 EUROPE BENZOIC ACID MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 65
TABLE 50 EUROPE BENZOIC ACID MARKET, BY APPLICATION, 2020-2027 (KILO TONS) 66
TABLE 51 EUROPE BENZOIC ACID MARKET, BY END USE, 2020-2027 (USD MILLION) 66
TABLE 52 EUROPE BENZOIC ACID MARKET, BY END USE, 2020-2027 (KILO TONS) 67
TABLE 53 GERMANY BENZOIC ACID MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 67
TABLE 54 GERMANY BENZOIC ACID MARKET, BY APPLICATION, 2020-2027 (KILO TONS) 68
TABLE 55 GERMANY BENZOIC ACID MARKET, BY END USE, 2020-2027 (USD MILLION) 68
TABLE 56 GERMANY BENZOIC ACID MARKET, BY END USE, 2020-2027 (KILO TONS) 69
TABLE 57 UK BENZOIC ACID MARKET, BY APPLICATION, 2020-2027 ( USD MILLION) 69
TABLE 58 UK BENZOIC ACID MARKET, BY APPLICATION, 2020-2027 (KILO TONS) 70
TABLE 59 UK BENZOIC ACIDMARKET, BY END USE, 2020-2027 (USD MILLION) 70
TABLE 60 UK BENZOIC ACIDMARKET, BY END USE, 2020-2027 (KILO TONS) 71
TABLE 61 RUSSIA BENZOIC ACID MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 71
TABLE 62 RUSSIA BENZOIC ACID MARKET, BY APPLICATION, 2020-2027 (KILO TONS) 72
TABLE 63 RUSSIA BENZOIC ACID MARKET, BY END USE, 2020-2027 (USD MILLION) 72
TABLE 64 RUSSIA BENZOIC ACID MARKET, BY END USE, 2020-2027 (KILO TONS) 73
TABLE 65 FRANCE BENZOIC ACID MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 73
TABLE 66 FRANCE BENZOIC ACID MARKET, BY APPLICATION, 2020-2027 (KILO TONS) 74
TABLE 67 FRANCE BENZOIC ACID MARKET, BY END USE, 2020-2027 (USD MILLION) 74
TABLE 68 FRANCE BENZOIC ACID MARKET, BY END USE, 2020-2027 (KILO TONS) 75
TABLE 69 SPAIN BENZOIC ACID MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 75
TABLE 70 SPAIN BENZOIC ACID MARKET, BY APPLICATION, 2020-2027 (KILO TONS) 76
TABLE 71 SPAIN BENZOIC ACID MARKET, BY END USE, 2020-2027 (USD MILLION) 76
TABLE 72 SPAIN BENZOIC ACID MARKET, BY END USE, 2020-2027 (KILO TONS) 77
TABLE 73 ITALY BENZOIC ACID MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 77
TABLE 74 ITALY BENZOIC ACID MARKET, BY APPLICATION, 2020-2027 (KILO TONS) 78
TABLE 75 ITALY BENZOIC ACID MARKET, BY END USE, 2020-2027 (USD MILLION) 78
TABLE 76 ITALY BENZOIC ACID MARKET, BY END USE, 2020-2027 (KILO TONS) 79
TABLE 77 REST OF EUROPE BENZOIC ACID MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 79
TABLE 78 REST OF EUROPE BENZOIC ACID MARKET, BY APPLICATION, 2020-2027 (KILO TONS) 80
TABLE 79 REST OF EUROPE BENZOIC ACID MARKET, BY END USE, 2020-2027 (USD MILLION) 80
TABLE 80 REST OF EUROPE BENZOIC ACID MARKET, BY END USE, 2020-2027 (KILO TONS) 81
TABLE 81 ASIA PACIFIC BENZOIC ACID MARKET, BY COUNTRY, 2020-2027 (USD MILLION) 81
TABLE 82 ASIA PACIFIC BENZOIC ACID MARKET, BY COUNTRY, 2020-2027 (KILO TONS) 82
TABLE 83 ASIA PACIFIC BENZOIC ACID MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 82
TABLE 84 ASIA PACIFIC BENZOIC ACID MARKET, BY APPLICATION, 2020-2027 (KILO TONS) 83
TABLE 85 ASIA PACIFIC BENZOIC ACID MARKET, BY END USE, 2020-2027 (USD MILLION) 83
TABLE 86 ASIA PACIFIC BENZOIC ACID MARKET, BY END USE, 2020-2027 (KILO TONS) 84
TABLE 87 CHINA BENZOIC ACID MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 84
TABLE 88 CHINA BENZOIC ACID MARKET, BY APPLICATION, 2020-2027 (KILO TONS) 85
TABLE 89 CHINA BENZOIC ACID MARKET, BY END USE, 2020-2027 (USD MILLION) 85
TABLE 90 CHINA BENZOIC ACIDMARKET, BY END USE, 2020-2027 (KILO TONS) 86
TABLE 91 JAPAN BENZOIC ACID MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 86
TABLE 92 JAPAN BENZOIC ACID MARKET, BY APPLICATION, 2020-2027 (KILO TONS) 87
TABLE 93 JAPAN BENZOIC ACID MARKET, BY END USE, 2020-2027 (USD MILLION) 87
TABLE 94 JAPAN BENZOIC ACIDMARKET, BY END USE, 2020-2027 (KILO TONS) 88
TABLE 95 INDIA BENZOIC ACID MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 88
TABLE 96 INDIA BENZOIC ACID MARKET, BY APPLICATION, 2020-2027 (KILO TONS) 89
TABLE 97 INDIA BENZOIC ACID MARKET, BY END USE, 2020-2027 (USD MILLION) 89
TABLE 98 INDIA BENZOIC ACID MARKET, BY END USE, 2020-2027 (KILO TONS) 90
TABLE 99 INDONESIA BENZOIC ACID MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 90
TABLE 100 INDONESIA BENZOIC ACID MARKET, BY APPLICATION, 2020-2027 (KILO TONS) 91
TABLE 101 INDONESIA BENZOIC ACID MARKET, BY END USE, 2020-2027 (USD MILLION) 91
TABLE 102 INDONESIA BENZOIC ACID MARKET, BY END USE, 2020-2027 (KILO TONS) 92
TABLE 103 SOUTH KOREA BENZOIC ACID MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 92
TABLE 104 SOUTH KOREA BENZOIC ACID MARKET, BY APPLICATION, 2020-2027 (KILO TONS) 93
TABLE 105 SOUTH KOREA BENZOIC ACID MARKET, BY END USE, 2020-2027 (USD MILLION) 93
TABLE 106 SOUTH KOREA BENZOIC ACID MARKET, BY END USE, 2020-2027 (KILO TONS) 94
TABLE 107 REST OF ASIA PACIFIC BENZOIC ACID MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 94
TABLE 108 REST OF ASIA PACIFIC BENZOIC ACID MARKET, BY APPLICATION, 2020-2027 (KILO TONS) 95
TABLE 109 REST OF ASIA PACIFIC BENZOIC ACID MARKET, BY END USE, 2020-2027 (USD MILLION) 95
TABLE 110 REST OF ASIA PACIFIC BENZOIC ACID MARKET, BY END USE, 2020-2027 (KILO TONS) 96
TABLE 111 LATIN AMERICA BENZOIC ACID MARKET, BY COUNTRY, 2020-2027 (USD MILLION) 96
TABLE 112 LATIN AMERICA BENZOIC ACID MARKET, BY COUNTRY, 2020-2027 (KILO TONS) 96
TABLE 113 LATIN AMERICA BENZOIC ACID MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 97
TABLE 114 LATIN AMERICA BENZOIC ACID MARKET, BY APPLICATION, 2020-2027 (KILO TONS) 97
TABLE 115 LATIN AMERICA BENZOIC ACID MARKET, BY END USE, 2020-2027 (USD MILLION) 98
TABLE 116 LATIN AMERICA BENZOIC ACID MARKET, BY END USE, 2020-2027 (KILO TONS) 98
TABLE 117 BRAZIL BENZOIC ACID MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 99
TABLE 118 BRAZIL BENZOIC ACID MARKET, BY APPLICATION, 2020-2027 (KILO TONS) 99
TABLE 119 BRAZIL BENZOIC ACID MARKET, BY END USE, 2020-2027 (USD MILLION) 100
TABLE 120 BRAZIL BENZOIC ACID MARKET, BY END USE, 2020-2027 (KILO TONS) 100
TABLE 121 ARGENTINA BENZOIC ACID MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 101
TABLE 122 ARGENTINA BENZOIC ACID MARKET, BY APPLICATION, 2020-2027 (KILO TONS) 101
TABLE 123 ARGENTINA BENZOIC ACID MARKET, BY END USE, 2020-2027 (USD MILLION) 102
TABLE 124 ARGENTINA BENZOIC ACID MARKET, BY END USE, 2020-2027 (KILO TONS) 102
TABLE 125 MEXICO BENZOIC ACID MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 103
TABLE 126 MEXICO BENZOIC ACID MARKET, BY APPLICATION, 2020-2027 (KILO TONS) 103
TABLE 127 MEXICO BENZOIC ACID MARKET, BY END USE, 2020-2027 (USD MILLION) 104
TABLE 128 MEXICO BENZOIC ACID MARKET, BY END USE, 2020-2027 (KILO TONS) 104
TABLE 129 REST OF LATIN AMERICA BENZOIC ACID MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 105
TABLE 130 REST OF LATIN AMERICA BENZOIC ACID MARKET, BY APPLICATION, 2020-2027 (KILO TONS) 105
TABLE 131 REST OF LATIN AMERICA BENZOIC ACID MARKET, BY END USE, 2020-2027 (USD MILLION) 106
TABLE 132 REST OF LATIN AMERICA BENZOIC ACID MARKET, BY END USE, 2020-2027 (KILO TONS) 106
TABLE 133 THE MIDDLE EAST AND AFRICA BENZOIC ACID MARKET, BY COUNTRY, 2020-2027 (USD MILLION) 107
TABLE 134 THE MIDDLE EAST AND AFRICA BENZOIC ACID MARKET, BY COUNTRY, 2020-2027 (KILO TONS) 107
TABLE 135 THE MIDDLE EAST AND AFRICA BENZOIC ACID MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 108
TABLE 136 THE MIDDLE EAST AND AFRICA BENZOIC ACID MARKET, BY APPLICATION, 2020-2027 (KILO TONS) 108
TABLE 137 THE MIDDLE EAST AND AFRICA BENZOIC ACID MARKET, BY END USE, 2020-2027 (USD MILLION) 109
TABLE 138 THE MIDDLE EAST AND AFRICA BENZOIC ACIDMARKET, BY END USE, 2020-2027 (KILO TONS) 109
TABLE 139 UAE BENZOIC ACID MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 110
TABLE 140 UAE BENZOIC ACID MARKET, BY APPLICATION, 2020-2027 (KILO TONS) 110
TABLE 141 UAE BENZOIC ACID MARKET, BY END USE, 2020-2027 (USD MILLION) 111
TABLE 142 UAE BENZOIC ACIDMARKET, BY END USE, 2020-2027 (KILO TONS) 111
TABLE 143 TURKEY BENZOIC ACID MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 112
TABLE 144 TURKEY BENZOIC ACID MARKET, BY APPLICATION, 2020-2027 (KILO TONS) 112
TABLE 145 TURKEY BENZOIC ACID MARKET, BY END USE, 2020-2027 (USD MILLION) 113
TABLE 146 TURKEY BENZOIC ACID MARKET, BY END USE, 2020-2027 (KILO TONS) 113
TABLE 147 SAUDI ARABIA BENZOIC ACID MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 114
TABLE 148 SAUDI ARABIA BENZOIC ACID MARKET, BY APPLICATION, 2020-2027 (KILO TONS) 114
TABLE 149 SAUDI ARABIA BENZOIC ACID MARKET, BY END USE, 2020-2027 (USD MILLION) 115
TABLE 150 SAUDI ARABIA BENZOIC ACID MARKET, BY END USE, 2020-2027 (KILO TONS) 115
TABLE 151 REST OF MIDDLE EAST AND AFRICA BENZOIC ACID MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 116
TABLE 152 REST OF MIDDLE EAST AND AFRICA BENZOIC ACID MARKET, BY APPLICATION, 2020-2027 (KILO TONS) 116
TABLE 153 REST OF MIDDLE EAST AND AFRICA BENZOIC ACID MARKET, BY END USE, 2020-2027 (USD MILLION) 117
TABLE 154 REST OF MIDDLE EAST AND AFRICA BENZOIC ACID MARKET, BY END USE, 2020-2027 (KILO TONS) 117
13 List Of Figures
FIGURE 1 GLOBAL BENZOIC ACID: MARKET STRUCTURE 20
FIGURE 2 RESEARCH PROCESS OF MRFR 22
FIGURE 3 TOP-DOWN AND BOTTOM-UP APPROACHES 25
FIGURE 4 GLOBAL BENZOIC ACID MARKET DYNAMICS 27
FIGURE 5 GLOBAL SALES OF BEVERAGES BY COCA-COLA IN 2020 28
FIGURE 6 US PHARMACEUTICALS IMPORTS & EXPORTS DATA (2020) 29
FIGURE 7 PHARMACEUTICAL R&D EXPENDITURE IN 2020 30
FIGURE 8 DRIVERS IMPACT ANALYSIS 31
FIGURE 9 RESTRAINTS IMPACT ANALYSIS 32
FIGURE 10 SUPPLY CHAIN ANALYSIS FOR GLOBAL BENZOIC ACID 34
FIGURE 11 PORTER’S FIVE FORCES ANALYSIS FOR THE GLOBAL BENZOIC ACID MARKET 35
FIGURE 12 GLOBAL BENZOIC ACID MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 38
FIGURE 13 GLOBAL BENZOIC ACID MARKET, BY APPLICATION, 2020-2027 (KILO TONS) 39
FIGURE 14 GLOBAL BENZOIC ACID MARKET, BY END USE, 2020-2027 (USD MILLION) 49
FIGURE 15 GLOBAL BENZOIC ACID MARKET, BY END USE, 2020-2027 (KILO TONS) 50
FIGURE 16 GLOBAL BENZOIC ACID MARKET BY REGION, 2020-2027 (USD MILLION) 56
FIGURE 17 GLOBAL BENZOIC ACID MARKET BY REGION, 2020-2027 (KILO TONS) 57
Global Benzoic Acid Market: Competitive Landscape
The prominent players in the global benzoic acid market are Ganesh Benzoplast Limited (India), Hemadri Chemicals (India), Emerald Performance Materials (US), Navyug Pharmachem (P) Ltd (India), Eastman Chemical Company (US), Tianjin Dongda Chemical Group Co., Ltd (China), Alfa Aesar, Thermo Fisher Scientific (US), GFS Chemicals, Inc. (US), Wuhan YouJi Industries Company Limited (China), Spectrum Chemical Manufacturing Corp. (US), MP Biomedicals, LLC (US), Avantor (US), and Choice Organochem LLP (India).
The top players dominating this market include Eastman Chemical Company, Emerald Performance Materials, Avantor, Spectrum Chemical Manufacturing Corp., and Alfa Aesar. The global benzoic acid market is fragmented and consists of tier-1, tier-2, and small players; catering different end-use industries such as food & beverage, chemicals, and pharmaceuticals. No substantial development has been noted in the past five years by the major players operating the in the global benzoic acid market apart from Emerald Performance Materials. This can be attributed to the narrow scope of application of benzoic acid.
Ganesh Benzoplast Limited (Ganesh Benzoplast) manufactures chemicals and storage tanks. The company operates through two major business segments- storage facilities & cargo handling and chemicals. It an exporter of food preservatives, lubricant additives, petroleum sulphonates, and plasticizers. The products manufactured by the company serve various end-use industries, such as food and beverage, automobile, paints, and pharmaceuticals. The company markets its chemical products through distributors in Africa, North America, North Europe, India, Australia, and the Middle East. It has two sister concerns, namely Agarwal Chemicals and Ganesh Medicament Pvt. Ltd., engaged in processing ferrous fumarate and phenobarbitone, respectively. The company is ISO 9001 certified and is spread across 25000 sq. ft. The company produces 7200 MT of benzoic acid per year.
In September 2017, Emerald Kalama completed the expansion of its facility in Rotterdam, the Netherlands. The company invested USD 40 million in the expansion which resulted in increased production capacity of 1,00,000 tons per year for its brands of Purox B Benzoic Acid, Kalama Benzaldehyde and many downstream products, such as Kalama Hexyl Cinnamic Aldehyde, and Kalama Amyl Cinnamic Aldehyde.
Eastman Chemical Company (Eastman Chemical) is a leading manufacturer of advanced materials and specialty additives. It operates through four business segments, namely additives & functional products, chemical intermediates, advanced materials, and fibers. It has operations in over 100 countries with around 50 manufacturing centers across the globe. It had assets worth USD 15,999 million, as of 2017, and invested USD 215 million in its research & development activities.
Alfa Aesar is a leading manufacturer and supplier of chemicals, metals, and life science products used for research and development. The company’s product portfolio includes chemicals, life science, materials & metals, catalysts, and analytical & labware. It offers 38,000 products in stock, in gram-scale, semi-bulk, and bulk production quantities. Alfa Aesar was acquired by Thermo Fisher Scientific in 2015 and is now a part of its laboratory products and services business. It is ISO 9001 and ISO 14001 certified and operates in North America, Europe, and Asia.
Wuhan YouJi Industries Company Limited (Wuhan Youji) is an ingredients company that manufactures and supplies food additives. It offers products such as toluene oxidization products and derivatives, toluene ethylbenzene chlorination products and derivatives, xylene oxidization and chlorination products and derivatives, p(o)-chlorotoluene products and derivatives, flavor and fragrance, glutaraldehyde, epichlorohydrin rubber, and fine chemicals. The company also distributes benzonitrile, benzoguanamine, benzyl alcohol, and benzylamine. The products manufactured by the company are used in dyeing, tanning, rubber, and oil exploitation. The company has operations in Germany, the US, Indonesia, and Brazil and offers products and services for global customers in more than 100 countries. The company produces 2,00,000T of benzoic acid per year which accounted for 32% domestic market share and 11% international market share in 2017.
Avantor was known as J.T. Baker Chemical Company before it was acquired by New Mountain Capital in 2010. It is a global manufacturer and distributor of high-quality products, services, and solutions in the life sciences and advanced technology industries. The products manufactured by the company serve biopharmaceutical, pharmaceutical, medical device, healthcare, aerospace & defense, and semiconductor industries. It has 22 manufacturing units, out of which 8 are cGMP, and 14 are cGDP in 9 countries across the globe. It has seven research and application facilities in the US, India, and Taiwan. It is ISO 9000, 9001, 13485, and 14001 certified.